Update of Pool Withdrawal

1/ The calculation of withdrawal amounts for our LPs has been completed.
Check the withdrawal amount of each wallet here: bit.ly/47eWsQt 2/ We aim to provide you with an accurate and seamless experience. If you have any concerns about the calculations, please let us know by submitting a form with all the info here before 11:59 pm UTC on 3 Nov:
forms.gle/3NSkXaapyRM4Uj…

1/ Following successful negotiations, we are making good progress and 90% of the funds stolen from the sAVAX pool have now been successfully returned by the exploiter. As promised, Platypus will guarantee that no legal action will be pursued. 2/ Along with the recovery on Oct 12, over 90% of the funds have been recovered. The net loss has been minimized to approximately 18k AVAX. We will release further information on withdrawal arrangement as we progress.

It is with great pleasure that we provide the recent updates of Platypus and our plan for the upcoming months. 🧵 2/ Recent update 1:
380k worth of funds that trapped in the Aave contract were previously rescued.
We've consulted our legal partner to ensure that we follow the appropriate procedures & will arrange for a 2nd compensation round later to prevent any potential legal conflicts.

We have received some inquiries regarding compensation for those who deposited on the old Main Pool through Vector, Echidna, and Yield Yak. We want to clarify that we understand your concerns and we are committed to compensating your losses.
🧵

https://twitter.com/Platypusdefi/status/1630595671660331008

2/ Please note that you won't find this type of deposit record on our page, as the deposits are held in the contracts of those yield aggregators.
Therefore, we kindly ask for your patience while you wait for their claim page to be released.

We have just released a page where you can check the value of your loss and expected compensation for our first claim.
🔗 bit.ly/3KHNN0O

Need a walk-through? We have prepared a medium for you: bit.ly/3Zuhkzw 2/ If you find any wrong calculation, you can submit a form with supporting evidence by Mar 3rd, 11:59 pm UTC.
📝 forms.gle/ZKz8zYEvfYMMVq…

We're pleased to inform our users that we are now working on a page that will enable you to check your pre-attack balance, post-attack USP-related actions, and the amount you'll be eligible to claim once the first compensation is ready.
It will be available on Feb 27th. 🧵 2/ On this page, you can check the breakdown of your pre-attack balance, including your Main Pool deposit, USP balance, & USP debt. You can also check your post-attack actions, the compensation rate will be vary depending on the action type.

Since the attack, we've been working with security experts & stakeholders to recover lost funds, trace the hacker, and explore potential solutions to retrieve trapped funds.
Here's an update on the progress made thus far 🧵
Check our medium for more info👇
bit.ly/3xP85Og 2/ Before we move forward, we want to assure you that our stableswap's operation hasn't & won't be impacted.

There is a loss of 9.1m from 3 attacks, but 2.4m USDC has been retrieved and 1.5m USDT has been frozen.
We are now proposing to retrieve 380k tokens from Aave contract.

1/
Thanks everyone who supported us over the last few days! We’ve been trying our best to recover the losses and would like to give everyone a quick update: 2/ We are working on a plan to compensate the losses, please DO NOT repay your USP and realize the losses. It would be easier for us to manage the damage. Also, you don’t have to worry about liquidation as liquidation is paused, stability fee after the attack will not be counted

Dear Community,
We regret to inform you that our protocol was hacked recently, and the attacker took advantage of a flaw in our USP solvency check mechanism. They used a flashloan to exploit a logic error in the USP solvency check mechanism in the contract holding the collateral. 2/ Exploiter contract: snowtrace.io/address/0x67af…
Exploit: snowtrace.io/tx/0x1266a937c…
Exploiter: snowtrace.io/address/0xeff0…

1/ Hey! The first $HUM airdrop is up and running with an impressive APR of 13.15%.

If you managed to grab some $vePTP during the first snapshot, head on over to our claim page to claim your share.

How to claim? Well, check it out below 👇 2/ Step 1: Visit to our claim page bit.ly/3RdGore
Step 2: Connect your wallet and switch to Metis Andromeda network
Step 3: Claim the $Hum token

Tada 🎉! Clean and simple!

Exciting news! 💥 @axelarcore just upped the ante by offering $USDC rewards for their pools on Platypus! 🤟

Interested to know more about Axelar? Let's explore what makes them the newest must-know in town! 🧵

https://twitter.com/Platypusdefi/status/1623662752710504451?s=20&t=gronL8jc7_cjhe_5w-Ts9A

2/ A round of applause to @axelarcore 👏👏

Axelar is shaking things up by making it super easy for Web3 users to access any asset or app on any blockchain - all with just ONE click! 💥
Ultimate convenience has never been so easy to reach!

Live Now: $USP 🚀
Get ready to revolutionize your Platypus experience with our #stablecoin & #stableswap fusion! $vePTP holders, don't miss out on the juicy bribes in the USP pool - vote now. Don't have vePTP yet? Acquire it easily by locking or staking PTP.
🧵 2/ Say goodbye to idle funds and capital fragmentation with USP.
Maximize your capital efficiency by turning staked assets into liquid form while earning rewards from farming. And, leverage your yield 20x with repeat minting - made easy with USP.

The AVAX ecosystem is rich in passion & support. People who speak their minds & point out flaws are greatly appreciated by us. We all have the goal of doing good things for the space & dialogues are critical to the growth of the entire ecosystem 🧵 2/ We value transparency & have worked to be since the day Platypus was born. There have been moments a part of our community felt we have not been so, as much as expected. And for this, we apologize.

Sometimes, we need to hear criticisms to see our own imperfections.

#USP101 🔔 How does $USP #liquidation work?

Positions with a health rate lower than 1 are open to discounted collateral liquidation to prevent under-collateralization & protocol insolvency.

We use the dutch auction format, and portions can be filled partially. 🧵 2/ Anyone can trigger a smart contract check of all position health rates. If health rates are below 1, the auction process will be kickstarted. The kickstarter will receive a reward to compensate for their incurred gas fees and efforts.

🎉We're holding a #PTParty Tweet Thread Competition
$720 in PTP awaiting our lucky winners!

What do you need to do?
#PTPVotingGaugeAnalysis: Tweet a thread explaining our PTParty & Voting Gauge to help more people understand what is happening, what's next, & why it matters! 🧵 2/ Please also share your opinion! It could be a brief background of PTParty, the potential participants, or what you understood about it!

📅 Competition is open from 1 - 6 September
So, what's the criteria for winning? Keep reading!

LIVE SOON on Sep 6th...
The long awaited #VotingGauge 💥

#PTParty participants are all prepared to compete with each other to give you the best incentive possible. What's this phenomenon?! 🧵

Learn more about Voting Gauge here: bit.ly/3CIIU3A 2/ Voting Gauge allows vePTP holders to "vote" where $PTP emissions go. The more votes a pool gets, the more PTP emission will be allocated to it. And by now, we all now what that means... more ka-ching ka-ching 💸

🚨 We are seeing a big wave of new users joining Platypus!🚨
Here are some educational tweets 🧵 to keep everyone in the loop.

PS: we also have a big new feature coming up next week - the new Interest Rate Model.
👀 Watch out for updates!

1/ Platypus has a myriad of innovations in protocol design as a stableswap💪
The most groundbreaking one is its open liquidity pool design which essentially eliminates IL and improves capital efficiency – the lowest slippage for swapping in large volumes.

👉 Here’s how and why:
2/